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Brent crude oil, the benchmark North Sea variety, is trading at $67.30 per barrel on Monday, marking a 1% decline in the price of black gold over the day.
Russian export-grade Urals crude, a blend of heavy high-sulfur oil from the Urals-Volga region and light West Siberian Siberian Light oil, is valued at $56.30 per barrel.
The price discount between Brent and Urals grades ranges from $8 to $15 per barrel.
Major trading venues for oil include international commodity exchanges such as NYMEX (WTI, USA) and ICE (Brent, Europe), as well as regional exchanges like SPIMES (Urals, Russia) and SGX (Asia).
Trading takes place through futures and spot contracts linked to benchmark crude grades: American WTI, European Brent, and Asian Dubai/Oman, which shape the global pricing landscape.
This analysis was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.
